YETI Holdings, Inc. Q1 Profit Increases, Beats Estimates; Ups Annual Earnings Outlook - Update

(RTTNews) - (Adds Outlook)

For the full year, YETI Holdings, Inc. (YETI) has increased its earnings outlook.

It now expects adjusted earnings per share in the range of $2.49- $2.62, compared with its previous outlook of $2.45 - $2.50.

Sales for the quarter are still expected increase between 7 percent and 9 percent.

On average, 17 analysts polled by Thomson-Reuters expect the company to report earnings of $2.49 per share on revenue growth of 8.9%.

Q1 Results:

YETI Holdings released a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $15.86 million, or $0.18 per share. This compares with $10.56 million, or $0.12 per share, in last year's first quarter.

Excluding items, YETI Holdings, Inc. reported adjusted earnings of $29.32 million or $0.34 per share for the period.

Analysts on average had expected the company to earn $0.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.7% to $341.39 million from $302.80 million last year.

YETI Holdings, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $15.86 Mln. vs. $10.56 Mln. last year. -EPS (Q1): $0.18 vs. $0.12 last year. -Revenue (Q1): $341.39 Mln vs. $302.80 Mln last year.